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Left Bank has a standing rate of 8.4 %8.4% ?(APR) for all bank loans and requires monthly payments. What is the monthly payment if a
Left Bank has a standing rate of
8.4 %8.4%
?(APR) for all bank loans and requires monthly payments. What is the monthly payment if a loan is for
?(a?)
$ 115 comma 000$115,000
for
66
?years,
?(b?)
$ 270 comma 000$270,000
for
1212
?years, or
?(c?)
$ 1 comma 130 comma 000$1,130,000
for
2323
?years? What is the effective annual rate of each of these? loans?
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